I really don't understand how you could say my humble opinion was wrong, that smacks of just a little too much hubris.
Want it a little more constructive? Well, the production values are high, that's cool, nice puppetry combined with blue screen.
Where it breaks down as I said before is the humor is coming off at best groan worthy and at worst cruel. Maybe that is the point, make cutesy video game characters of old look decrepit in a behind the scenes kind of way.
What I would do differently if I was involved with the writing any would be to increase the amount of inside jokes that reference other parts in silly ways, which saw used with the Pac Man kid clone, Donkey Kong Jr, and Luigi. Such as, have a future version of Mario, Donkey Kong, Peach, etc show up to comedic effect and objects in the game world could be used in silly ways. The needle in the arm and the gun to the head just seem to break with what could be silly and instead come off as revoltingly dark. The best part for me were things like the Rampage screens, references to other games tying in silly ways, and the seeing of the old level in puppet form.
So I ask again, a little differently, was I supposed to find this funny or tragic? One doesn't succeed and the other does, so it would be interesting if this was meant to be a tragedy and my expectations coming into it were at odds with that.